Bayt.com Middle East Consumer Confidence Index. September 2016

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Bayt.com Middle East Consumer Confidence Index September 2016

Section 1 PROJECT BACKGROUND

Objectives To understand perceptions and attitudes of consumers in the Middle East regarding the economy of their countries, their personal financial and job situation, their likelihood to purchase and invest, and the job market in general.

Project Background Consumer confidence is a measure of the economic wellbeing of a country. It is a reflection of consumer satisfaction levels and expectations based on various factors in the economy, i.e. inflation, stock market performance, job opportunities, salary structures, unemployment, investment avenues and returns, business growth, state economic policies, infrastructure, cost of living, interest rates, exchange rates etc. Such consumer satisfaction levels and expectations will have an effect on economic variables. For example, if consumers are positive about the economy and have disposable income levels that are perceived as sufficient, they will tend to spend more on consumer goods. This in turn will drive businesses dependent on consumer spending, thereby creating further economic growth. On the other hand, a pessimistic view of the economy would cause consumers to rein in their spending, creating a spending recession which could effectively cause business losses and economic downturn.

Project Background Similarly, if employable adults are optimistic about job prospects and opportunities, job security, salary levels, and career growth and development opportunities, it will be reflected in their attitudes towards work and the economy as a whole, as well as their spending behaviors. Therefore, the following trends in consumer and employee expectations could help forecast economic variables. This information is useful for professionals, manufacturers/business owners, recruitment consultants/agencies, economists, and the general public.

Section 2 RESEARCH METHODOLOGY

Sample Definition Age and Gender: Adult males and females Age 18+ years Nationalities: GCC Arabs, North Africans, Levant, Western Expats and Asians Country of Residence GCC: UAE, KSA, Kuwait, Oman, Qatar, Bahrain* Levant: Lebanon, Syria*, Jordan North Africa: Egypt, Morocco, Algeria, Tunisia *Small sample size Data Collection All data was collected online. Fieldwork was conducted between 3 rd August 31 st August, 2016. The total number of respondents achieved was 2,893.

Section 3 RESEARCH FINDINGS

Average of Past Indices: April 2007 October 2012 UAE Saudi Arabia Kuwait Qatar Lebanon Egypt Algeria Consumer Expectancy Index (CEI) 88.5 89.4 90.7 91.9 103.7 98.2 92.0 Propensity to Consume (PCI) 86.7 83.0 81.4 81.6 109.3 81.0 81.2 Consumer Confidence Index (CCI) 85.0 85.8 86.9 86.9 107.1 89.3 89.6 Employee Confidence Index (ECI) 80.3 84.3 84.5 84.8 99.5 89.1 89.1

Base Period Values March 2013 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 16379 2730 1976 457 509 120 220 506 252 1700 5484 1002 992 431 Current Economic Scenario 81.14 112.91 114.07 102.52 117.49 92.08 115.45 54.15 24.01 51.21 56.35 83.73 111.14 66.36 Expected Economic Scenario 89.19 103.71 112.90 104.74 116.11 101.11 111.36 67.33 43.39 66.41 77.27 93.31 98.49 88.55 Employee Outlook 115.50 131.06 128.61 122.90 140.93 122.96 140.61 101.43 69.21 97.40 102.88 113.26 123.41 111.53 Overall Consumer Confidence 285.83 347.69 355.58 330.16 374.52 316.15 367.43 222.90 136.60 215.02 236.50 290.31 333.04 266.44

Period Values September 2013 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 6585 1097 717 151 183 78 141 210 145 669 1871 426 645 252 Current Economic Scenario 88.47 110.16 110.74 103.64 122.40 110.90 123.05 57.86 31.72 54.04 73.81 92.37 111.78 62.70 Expected Economic Scenario 141.50 149.92 157.51 153.20 159.38 138.46 156.97 116.67 97.24 120.78 141.71 142.41 142.79 126.46 Employee Outlook 117.90 126.96 128.49 127.50 142.29 116.80 144.55 96.10 65.12 97.50 113.03 119.04 123.03 113.07 Overall Consumer Confidence 347.87 387.04 396.74 384.34 424.08 366.16 424.57 270.63 194.08 272.31 328.54 353.82 377.60 302.22

Period Values February 2014 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 6585 1097 717 151 183 78 141 210 145 669 1871 426 645 252 Current Economic Scenario 83.72 104.49 116.52 94.86 115.22 97.22 131.36 44.55 51.61 43.31 68.88 78.88 94.89 83.99 Expected Economic Scenario 137.21 147.12 158.60 147.03 153.62 135.19 161.52 112.32 103.94 114.55 133.39 134.22 135.31 140.38 Employee Outlook 113.02 124.65 138.54 129.00 139.35 107.50 139.29 89.27 63.02 89.22 99.96 107.49 117.09 118.17 Overall Consumer Confidence 333.95 376.27 413.66 370.89 408.19 339.91 432.16 246.14 218.58 247.09 302.23 320.59 347.29 342.54

Period Values August 2014 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 5075 1090 847 187 230 69 65 158 63 377 1013 330 505 141 Current Economic Scenario Expected Economic Scenario 95.06 109.86 113.16 102.14 121.30 105.07 119.23 59.18 52.38 62.47 78.04 87.27 103.27 61.35 142.26 147.92 152.89 147.06 156.23 135.27 153.33 111.18 113.76 124.31 140.80 135.45 140.92 130.50 Employee Outlook 120.16 129.41 133.87 120.61 140.94 119.64 131.73 101.33 75.60 100.96 104.57 106.40 119.34 103.17 Overall Consumer Confidence 357.49 387.19 399.93 369.81 418.47 359.98 404.29 271.69 241.73 287.74 323.40 329.12 363.53 295.01

Period Values January 2015 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 4263 819 495 135 131 94 107 189 54 234 1061 298 501 145 Current Economic Scenario 88.63 103.11 109.80 86.67 114.50 97.34 108.41 61.38 25.93 64.96 84.21 98.15 71.26 62.76 Expected Economic Scenario 136.12 141.27 152.39 139.01 148.85 134.75 138.32 111.82 97.53 122.22 137.04 138.14 125.22 131.95 Employee Outlook 113.94 123.14 131.78 106.63 134.54 119.02 124.43 98.43 66.89 101.46 101.93 112.75 108.63 110.00 Overall Consumer Confidence 338.70 367.53 393.97 332.31 397.89 351.11 371.15 271.62 190.35 288.63 323.18 349.05 305.11 304.71

Period Values July 2015 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 8882 1748 1011 264 255 114 144 231 63 703 2118 733 1135 363 Current Economic Scenario 93.01 111.04 114.94 102.84 114.71 99.12 118.75 46.75 34.13 69.35 90.30 91.68 80.22 54.68 Expected Economic Scenario 140.73 147.10 156.81 150.13 156.73 142.11 150.69 109.38 104.23 126.03 144.13 139.15 127.37 122.68 Employee Outlook 114.90 127.13 136.19 122.94 136.83 109.29 136.69 81.08 71.32 86.91 104.39 111.62 105.70 93.04 Overall Consumer Confidence 348.65 385.27 407.94 375.90 408.27 350.52 406.13 237.21 209.68 282.29 338.82 342.45 313.29 270.40

Last Period Values January 2016 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 3,905 660 629 264 161 164 168 175 24 176 585 302 486 111 Current Economic Scenario 76.12 83.33 95.79 79.92 90.06 61.59 81.55 50.86 52.08 55.11 76.41 81.79 56.89 51.35 Expected Economic Scenario 130.03 139.39 137.78 129.92 137.68 120.73 131.55 108.38 100.00 119.32 131.28 136.42 116.39 124.32 Employee Outlook 100.52 107.08 115.23 95.98 111.90 93.75 101.95 84.65 63.19 78.65 95.44 98.67 87.45 96.31 Overall Consumer Confidence 306.67 329.81 348.80 305.83 339.64 276.07 315.04 243.88 215.28 253.08 303.13 316.88 260.73 271.98

Current Period Values August 2016 Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Current Economic Scenario 72.05 81.33 100.90 82.35 100.00 80.00 87.04 69.47 34.78 58.18 47.70 87.55 62.89 49.64 Expected Economic Scenario 128.85 134.97 145.04 132.77 139.71 139.17 136.11 113.33 97.10 121.82 117.55 140.82 123.15 116.67 Employee Outlook 96.87 94.59 125.28 102.13 106.65 109.78 111.23 82.50 69.53 85.16 83.23 104.66 90.43 91.07 Overall Consumer Confidence 297.77 310.88 371.22 317.25 346.36 328.95 334.38 265.31 201.42 265.16 248.48 333.03 276.47 257.38

Overall Indices Total Saudi Arabia UAE Kuwait Qatar Bahrain Oman Lebanon Syria Jordan Egypt Morocco Algeria Tunisia Current Economic Scenario (CES) 88.80 72.03 88.45 80.33 85.12 86.88 75.39 128.30 144.88 113.62 84.66 104.56 56.58 74.81 Expected Economic Scenario (EES) 144.47 130.14 128.46 126.76 120.32 137.64 122.22 168.34 223.81 183.43 152.12 150.91 125.04 131.75 Employee Outlook (ECI) 83.87 72.17 97.42 83.10 75.68 89.28 79.11 81.34 100.47 87.43 80.90 92.41 73.28 81.66 Overall Consumer Confidence (CCI) 104.18 89.41 104.40 96.09 92.48 104.05 91.01 119.02 147.45 123.32 105.07 114.72 83.01 96.60

Section 3a PERSONAL ECONOMIC SITUATION

Summary Overall, less than a fifth (17%) believe that their financial condition is better now than it was 6 months ago. A higher proportion of GCC residents (25%) believe that their financial condition is better now as compared to respondents in Levant and North Africa (13% and 12%, respectively). The main contributors to this difference are Qatar (31%), Oman (31%) and UAE (29%). Overall, close to a third expect their financial condition to improve in the next 6 months. This belief is higher in the GCC (43%) as compared to other MENA regions (Levant: 29%, North Africa: 32%). The GCC countries where this view is higher include Qatar (47%), the UAE (46%) and Saudi Arabia (43%). Residents of Egypt seem relatively more pessimistic about their future financial position, with approximately 34% expecting it to get worse. Majority of respondents (75%) expect the cost of living to increase in the next 6 months. This is higher in North Africa (81%) and in the Levant (78%) as compared to the GCC (68%). This sentiment is especially high in Egypt (88%), Jordan (86%), Kuwait (83%) and Tunisia (82%). More than half (57%) believe that their savings have decreased in comparison to last year, while only 14% believe the opposite. A lower proportion of GCC residents (48%) claim that as compared to Levant and North Africa residents (67% and 62% respectively).

Summary About a third of respondents plan to buy at least one vehicle for personal use in the next 12 months. Amongst those planning to purchase a vehicle in the next 12 months, 38% intend to buy a new one, while about the same proportion plan to buy a used one. GCC residents show a preference towards new cars, Levant residents towards used ones, while North Africa residents are roughly split. Approximately a quarter of respondents (23%) plan to invest in property in the next 12 months. Respondents from GCC seem more likely to invest in property (30%) as compared to respondents from the Levant (13%) and from North Africa (18%).

Personal Finance Evaluation of Current Situation Overall, less than a fifth (17%) believe that their financial condition is better now than it was 6 months ago. A higher proportion of GCC residents (25%) believe that their financial condition is better now as compared to respondents in Levant and North Africa (13% and 12%, respectively). This regional difference is mainly from Qatar (31%), Oman (31%) and UAE (29%). 1 in 2 Egyptian residents state that their financial condition is worse now as compared to 6 months ago, the highest amongst any country in the MENA region. Q. Compared to 6 months ago, my or my family s current financial position is: Base: Total (2,893), KSA (490), UAE (279), Kuwait (119), Qatar (183), Bahrain (40*), Oman (108), Lebanon (95), Syria (23*), Jordan (165), Egypt (587), Morocco (245), Algeria (419), Tunisia (140) (*)Small base

Personal Finance Expectations for the Future Overall, close to a third expect their financial condition to improve in the next 6 months. This belief is higher in the GCC (43%) as compared to other MENA regions (Levant: 29%, North Africa: 32%). The GCC countries where this view is higher include Qatar (47%), the UAE (46%) and Saudi Arabia (43%). Residents in Morocco seem also more optimistic (45%). Residents of Egypt seem somewhat more pessimistic about their future financial position, with approximately 34% expecting it to get worse. This is followed by Tunisia (26%) and Kuwait (25%). Q. In comparison to the current period, in the next 6 months I expect my or my family s financial position to Base: Total (2,893), KSA (490), UAE (279), Kuwait (119), Qatar (183), Bahrain (40*), Oman (108), Lebanon (95), Syria (23*), Jordan (165), Egypt (587), Morocco (245), Algeria (419), Tunisia (140) (*)Small base

Cost of Living Majority of respondents (75%) expect the cost of living to increase in the next 6 months. This is higher in North Africa (81%) and in the Levant (78%) as compared to GCC (68%). This sentiment is especially high in Egypt (88%), Jordan (86%), Kuwait (83%) and Tunisia (82%). Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria * Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Cost of living to increase 75% 65% 68% 83% 62% 75% 68% 61% 87% 86% 88% 66% 79% 82% Cost of living to remain the same 15% 22% 16% 8% 22% 15% 22% 32% 9% 10% 5% 22% 11% 9% Cost of living to decrease 4% 6% 8% 3% 7% 5% 2% 3% 4% 1% 3% 3% 3% 4% Don t know can t say 7% 8% 8% 6% 8% 5% 8% 4% - 4% 4% 9% 8% 5% Q. In the next 6 months, I expect (*)Small base

Change in Savings More than half (57%) believe that their savings have decreased in comparison to last year, while only 14% believe the opposite. A lower proportion of GCC residents (48%) claim that their savings have decreased as compared to Levant and North Africa residents (67% and 62% respectively). A higher percentage of residents in Jordan (68%) and Egypt (67%) believe that their savings have decreased. Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria * Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Increased 14% 16% 16% 20% 21% 15% 18% 14% 9% 8% 11% 14% 13% 10% Remained the same 25% 25% 30% 26% 38% 25% 34% 24% 9% 22% 19% 24% 21% 26% Decreased 57% 55% 46% 47% 36% 53% 45% 61% 83% 68% 67% 53% 61% 60% Don t know/can t say 5% 4% 8% 7% 5% 8% 3% 1% - 2% 3% 8% 5% 4% Q. In comparison to last year, my savings have (*)Small base

Investment in Vehicle About a third of respondents plan to buy at least one vehicle for personal use in the next 12 months. Amongst those planning to purchase a vehicle in the next 12 months, 38% intend to buy a new one, while about the same proportion plan to buy a used one. GCC residents show a preference towards new cars, Levant residents towards used ones, while North Africa residents are roughly split. Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria * Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Yes 32% 38% 37% 37% 34% 40% 35% 34% 22% 35% 25% 26% 28% 28% No 55% 51% 48% 50% 48% 53% 51% 60% 70% 57% 62% 58% 57% 60% Don t know/can t Say 13% 11% 15% 13% 18% 8% 14% 6% 9% 8% 13% 17% 14% 12% Type of Vehicle Base(Plan to buy): 913 187 103 44 (*) 62 16 (*) 38 (*) 32 (*) 5 57 148 63 119 39 New 38% 45% 44% 55% 39% 44% 39% 41% - 21% 38% 29% 34% 31% Used 37% 34% 35% 32% 39% 13% 37% 38% 60% 63% 39% 30% 35% 36% Combination of new and used 17% 13% 18% 9% 18% 31% 5% 16% - 9% 15% 30% 23% 23% Don't know/can't say 8% 8% 3% 5% 5% 13% 18% 6% 40% 7% 9% 11% 8% 10% Q. Do you plan to buy at least one vehicle for personal use in the next 12 months? Q. Which of the following types of vehicle would it be? (*)Small base

Investment in Property Approximately a quarter of respondents (23%) plan to invest in property in the next 12 months. Respondents from GCC seem more likely to invest in property (30%) as compared to respondents from the Levant (13%) and from North Africa (18%). Lebanon residents are the least likely to invest in property. Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria * Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Yes 23% 29% 32% 34% 34% 25% 25% 14% 13% 13% 18% 17% 21% 12% No 60% 54% 51% 50% 48% 65% 48% 78% 78% 71% 66% 59% 62% 70% Don t know/can t Say 17% 17% 17% 17% 18% 10% 27% 8% 9% 16% 16% 24% 17% 18% Q. Do you plan to invest in property within the next 12 months? All figures are % s

Investment in Property Type of Property Total Saudi Arabia UAE Kuwait * Qatar Bahrain * Oman* Lebanon* Syria* Jordan * Egypt Morocco * Algeria Tunisia* Kind of Property Base (Plan to buy): 665 141 90 40 63 10 27 13 3 22 107 42 90 17 Apartment 48% 35% 51% 50% 38% 40% 37% 54% 33% 55% 67% 55% 47% 53% Villa/ townhouse/ bungalow Commercial property (office/ shop etc.) 26% 31% 21% 35% 35% 20% 44% 31% 33% 9% 18% 14% 29% 12% 22% 35% 17% 10% 16% 30% 7% 15% 33% 23% 15% 24% 27% 35% Other 11% 8% 17% 10% 11% 10% 15% 15% - 14% 7% 10% 11% 12% Status of Property Base (Plan to buy): 665 141 90 40 63 10 27 13 3 22 107 42 90 17 New 49% 56% 39% 50% 56% 70% 56% 46% 33% 45% 51% 43% 40% 65% Pre-owned 20% 15% 27% 8% 19% 10% 19% 38% 33% 32% 17% 19% 27% 12% Combination of new and pre-owned 19% 17% 24% 23% 21% 10% 7% 15% - 9% 25% 17% 21% - Don't know/can't say 12% 12% 10% 20% 5% 10% 19% - 33% 14% 7% 21% 12% 24% Q. What type of property are you planning to invest in? Q. Which of the following types of property would it be? (*)Small base

Consumer Goods Total Saudi Arabia UAE Kuwait Qatar Bahrain* Oman Lebanon Syria * Jordan Egypt Morocco Algeria Tunisia Base 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Tablet or Smartphone 20% 20% 27% 23% 26% 18% 26% 19% 9% 18% 16% 27% 17% 20% Desktop or Laptop 18% 19% 24% 22% 22% 20% 21% 20% 30% 14% 13% 15% 20% 19% Furniture 18% 20% 18% 14% 17% 18% 24% 13% 9% 16% 14% 18% 24% 16% Air Conditioner 13% 15% 10% 8% 11% 8% 14% 15% 4% 12% 15% 6% 18% 12% LCD or Plasma Television 11% 11% 12% 7% 9% 18% 14% 8% - 9% 9% 10% 14% 11% Refrigerator 9% 8% 10% 8% 5% 3% 13% 9% - 6% 5% 13% 13% 9% Washing Machine 8% 9% 9% 9% 9% 8% 12% 7% - 7% 4% 9% 12% 9% Digital Camera 6% 4% 10% 10% 10% 3% 9% 3% 4% 4% 3% 7% 7% 5% Cooking Range 6% 6% 9% 4% 8% 3% 6% 2% 4% 6% 3% 6% 8% 3% Vacuum Cleaner 4% 4% 5% 7% 3% 5% 7% 3% 4% 6% 4% 3% 3% 1% Clothes Dryer 4% 6% 6% 3% 3% 5% 5% 5% - 2% 2% 2% 3% 2% Normal or Digital Camcorder 3% 3% 5% 3% 3% - 5% 3% - 1% 3% 5% 5% 1% Normal Color Television 3% 3% 5% 3% 5% 3% 3% 3% - 1% 1% 5% 4% 2% Home Theatre System 3% 4% 8% 5% 7% 3% 3% 1% - 2% 2% 1% 1% 1% DVD or VCD Recorder or Player 2% 3% 3% 4% 3% 3% 2% 2% - 2% 2% 1% 2% 1% Other 10% 10% 9% 8% 6% 3% 13% 8% 17% 13% 11% 11% 10% 7% Q. Lastly, could you please tell us which of the following are you planning to invest in within the next 6 months? (Please tick all that apply) (*)Small base

Section 3b NATIONAL ECONOMIC SITUATION

Summary 1 in 2 respondents believe that their country s economy has become worse compared to 6 months earlier, while only 15% believe the opposite. Those from North Africa and the Levant are more negative about their country s economy, with 61% and 56% respectively stating that it has receded. 30% of respondents expect the economy in their country of residence to improve in the next 6 months, while another approximate third expect the opposite. Those living in the GCC and especially UAE are more optimistic about their country s future economy (GCC: 42%, UAE: 50%) as compared to those living in the Levant (11%) and in North Africa (23%). Only 6% believe that the present business conditions are very good, while 15% think that the business conditions are good. A higher proportion of respondents from GCC are positive about the current business conditions (very good/ good: 31%) in comparison to respondents from the Levant (very good/ good: 11%) and North Africa (very good/ good: 12%). Residents in Lebanon (bad/ very bad: 57%) and Egypt (bad/ very bad: 56%) seem more pessimistic. Overall, 43% of MENA residents expect the business conditions to get better within the next year. GCC residents and especially those living in the UAE (65%) and in Qatar (60%), are more optimistic about the future business conditions in their country of residence (GCC: 55%, Levant 22%, North Africa: 32%).

Summary 41% believe that there are few jobs available across few industries, while a quarter state that there are few jobs available across various industries. Generally, respondents seem somewhat negative about the future availability of jobs in their country with 35% of them expecting the number of jobs available in the next 6 months to decrease. This belief is higher amongst Levant and North Africa residents (44% and 39% respectively).

National Economy Evaluation of Current Scenario 1 in 2 respondents believe that their country s economy has become worse compared to 6 months earlier, while only 15% believe the opposite. Those from North Africa and the Levant are more negative about their country s economy, with 61% and 56% respectively stating that it has receded. A higher proportion of respondents from Egypt (73%) and Tunisia (71%) believe that their country s economy has become worse. Q. Compared to 6 months earlier, my country s economy has Base: Total (2,893), KSA (490), UAE (279), Kuwait (119), Qatar (183), Bahrain (40*), Oman (108), Lebanon (95), Syria (23*), Jordan (165), Egypt (587), Morocco (245), Algeria (419), Tunisia (140) (*)Small base

National Economy Expectations for the Future 30% of respondents expect the economy in their country of residence to improve in the next 6 months, while another approximate third expect the opposite. Those living in the GCC and especially UAE are more optimistic about their country s future economy (GCC: 42%, UAE:50%) as compared to those living in the Levant (11%) and in North Africa (23%). Q. In comparison to the current period, in the next 6 months I expect my country s economy to Base: Total (2,893), KSA (490), UAE (279), Kuwait (119), Qatar (183), Bahrain (40*), Oman (108), Lebanon (95), Syria (23*), Jordan (165), Egypt (587), Morocco (245), Algeria (419), Tunisia (140) (*)Small base

Present Business Conditions Only 6% believe that the present business conditions are very good, while 15% think that the business conditions are good. A higher proportion of respondents from GCC are positive about the current business conditions (very good/ good: 31%) in comparison to respondents from the Levant (very good/ good: 11%) and North Africa (very good/ good: 12%). Residents in Lebanon (bad/ very bad: 57%) and Egypt (bad/ very bad: 56%) seem more pessimistic. Q. Overall, presently business conditions in my country of residence are Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Expectations for Future Business Conditions Overall, 43% of MENA residents expect the business conditions to get better within the next year. GCC residents and especially those living in the UAE (65%) and in Qatar (60%), are more optimistic about the future business conditions in their country of residence (GCC: 55%, Levant 22%, North Africa: 32%). Q. In a year s time, I expect the business conditions to: Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Current Availability of Jobs 41% believe that there are few jobs available across few industries, while a quarter state that there are few jobs available across various industries. Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria* Jordan Egypt Morocco Algeria Tunisia Base 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 There are few jobs available across few industries There are few jobs available across various industries There are plenty of jobs available but across a few industries only There are plenty of jobs available across various industries Don t know/ Can t say 41% 34% 25% 32% 33% 45% 32% 53% 78% 49% 47% 39% 49% 56% 25% 27% 25% 30% 25% 30% 26% 26% 4% 28% 21% 28% 23% 24% 13% 16% 15% 10% 14% 10% 18% 4% - 8% 15% 14% 11% 9% 10% 12% 21% 18% 15% 5% 9% 6% 13% 4% 6% 10% 6% 4% 11% 11% 14% 9% 13% 10% 15% 11% 4% 12% 11% 9% 10% 6% Q. Which of the following best describes your opinion on the current availability of jobs in your country of residence: (*)Small base

Future Availability of Jobs Generally, respondents seem somewhat negative about the future availability of jobs in their country with 35% of them expecting the number of jobs available in the next 6 months to decrease. This belief is higher amongst Levant and North Africa residents (44% and 39% respectively). Levant residents seem more pessimistic about the future availability of jobs, with 1 in 2 stating that the number of jobs will decrease. Total Saudi Arabia UAE Kuwait Qatar Bahrain * Oman Lebanon Syria* Jordan Egypt Morocco Algeria Tunisia Base: 2,893 490 279 119 183 40 108 95 23 165 587 245 419 140 Increase 21% 28% 37% 25% 32% 20% 19% 8% 22% 10% 17% 21% 12% 10% Remain the same 30% 25% 32% 25% 23% 20% 30% 31% 26% 38% 28% 40% 32% 37% Decrease 35% 33% 16% 36% 30% 33% 35% 49% 35% 42% 41% 26% 42% 41% Don t know/can t say 14% 14% 16% 13% 16% 28% 17% 12% 17% 10% 14% 13% 15% 12% Q. In the next 6 months, the number of jobs available in my country will. (*)Small base

Section 3c CURRENT JOB SATISFACTION

Summary 41% of respondents state that the number of employees in their company has decreased in comparison to 6 months ago, while 23% believe that it has increased. A higher proportion of GCC residents (27%) claim that this number has increased as compared to Levant (17%) and North Africa (18%). This is mainly due to UAE (36%). 29% of respondents expect the number of employees in their company to decrease in the next 6 months, while about the same proportion (27%) expect the opposite. GCC residents seem more positive (34%) in comparison to Levant and North Africa residents (both at 19%). Those living in the UAE (47%) are the most positive. 39% claim that they are satisfied with the career growth opportunities in their current job, while the same proportion state the opposite. Jordan residents seem the least satisfied in this aspect. Close to half of employed respondents are dissatisfied with their current compensation (49%). Dissatisfaction levels tend to be higher amongst residents of Levant and North Africa (59% and 57% respectively vs. 39% in GCC). Respondents in Jordan (66%) are the most unhappy about the compensation given in their current jobs.

Summary 40% of respondents are dissatisfied with the non-monetary benefits they receive at their current job, while about the same proportion claim to be satisfied in this aspect. GCC residents present higher satisfaction levels (48%) in comparison to the Levant (36%) and North Africa (37%). 43% are not satisfied with the job security in their current organization, while 39% claim to be satisfied. Satisfaction with job security is somewhat lower in Levant.

Change in Number of Employees 41% of respondents state that the number of employees in their company has decreased in comparison to 6 months ago, while 23% believe that it has increased. A higher proportion of GCC residents (27%) claim that this number has increased as compared to Levant (17%) and North Africa (18%). This is mainly due to UAE (36%). Q. In comparison to 6 months ago, the number of employees in the organization where I work has: Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Expected Change in Number of Employees 29% of respondents expect the number of employees in their company to decrease in the next 6 months, while about the same proportion (27%) expect the opposite. GCC residents seem more positive (34%) in comparison to Levant and North Africa residents (both at 19%). Those living in the UAE (47%) are the most positive. Q. In the next 6 months, I expect the number of employees in my organization to: Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Satisfaction Levels: Career Growth Opportunities 39% claim that they are satisfied with the career growth opportunities in their current job, while the same proportion state the opposite. Jordan residents seem the least satisfied in this aspect. Q. On an overall level, how satisfied are you with the following attributes related to your job? Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Satisfaction Levels: Current Compensation (Salary & Allowances) Close to half of employed respondents are dissatisfied with their current compensation (49%). Dissatisfaction levels tend to be higher amongst residents of Levant and North Africa (59% and 57% respectively vs. 39% in GCC). Respondents in Jordan (66%) are the most unhappy about the compensation given in their current jobs. Q. On an overall level, how satisfied are you with the following attributes related to your job? Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Satisfaction Levels: Non-monetary Benefits 40% respondents are dissatisfied with the non-monetary benefits they receive at their current job, while about the same proportion claim to be satisfied in this aspect. Higher satisfaction levels in the GCC (48%) in comparison to the Levant (36%) and North Africa (37%). Morocco residents seem to be the least satisfied. Q. On an overall level, how satisfied are you with the following attributes related to your job? Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Satisfaction Levels: Job Security 43% are not satisfied with the job security in their current organization, while 39% claim to be satisfied. Satisfaction with job security is somewhat lower in Levant. Q. On an overall level, how satisfied are you with the following attributes related to your job? Base: Those employed (1,809), KSA (335), UAE (220), Kuwait (100), Qatar (156), Bahrain (23*), Oman (69), Lebanon (65), Syria (16*), Jordan (80), Egypt (378), Morocco (67), Algeria (230), Tunisia (70) (*)Small base

Section 4 DEMOGRAPHICS

Respondent Profile 1/4 Personal Base: Total (2,893) All figures are % s

Respondent Profile 2/4 Personal Base: Total (2,893) Base: Those Married/Divorced/Separated/ Widowed (1,404) All figures are % s

Respondent Profile 3/4 Professional Base: Total (2,893) Base: Those employed (1,809) All figures are % s

Respondent Profile 4/4 Professional Base: Those employed (1,809) All figures are % s

Thank You